US EditionMozambique’s ex-finance minister faces sentencing in New York in ‘tuna bonds’ corruption case
- Mozambique's former finance minister, Manuel Chang, has been sentenced to eight-and-a-half years in prison for his role in the tuna bond scandal that caused a financial crisis in the country.
- Chang was convicted of accepting $7 million in bribes and misrepresenting $2 billion in loans, leading to significant losses for investors.
- The tuna bond scandal resulted in nearly 2 million Mozambicans falling into poverty, with the country facing a $2 billion debt crisis.
- At least 10 people have been convicted in connection with the scandal, including the son of former president Armando Guebuza.
46 Articles
46 Articles
US court sentences former Mozambique finance minister to extended prison term
Mozambique’s former finance minister, Manuel Chang, has been sentenced to serve eight-and-a-half years in prison this Friday for his role in the “tuna bond” scandal by a Brooklyn court. In 2005, Mozambique’s President Armando Guebuza named Manuel Chang as Minister of Finance to lead the fight against poverty. Ironically, Chang—along with other state officials—were involved in accepting payoffs that triggered a financial crisis for the already st…
ThePatriotLight - Mozambique ex-finance minister sentenced in US to 8-1/2 years in prison over 'tuna bonds' scandal
ThePatriotLight - A former Mozambique finance minister was sentenced on Friday to 8-1/2 years in prison after being found guilty of participating in a fraud involving $2 billion in loans to three state-owned companies to develop the southern African country's fishing industry.Mozambique ex-finance minister sentenced in US to 8-1/2 years in prison over 'tuna bonds' scandal
Mozambique's Finance Scandal: Former Minister Sentenced in $2 Billion Fraud
Mozambique's Finance Scandal: Former Minister Sentenced in $2 Billion Fraud In a significant judgment, former Mozambican finance minister Manuel Chang was sentenced to 8-1/2 years in prison for a $2 billion financial fraud. Chang, 69, was found guilty by a Brooklyn jury in August for his role in the infamous 'tuna bonds' scandal.U.S. District Judge Nicholas Garaufis, who issued the ruling, acknowledged the six years Chang spent in custody, recom…
Mozambique ex-finance minister sentenced in US to 8-1/2 years in prison over 'tuna bonds' scandal
NEW YORK - A former Mozambique finance minister was sentenced on Friday to 8-1/2 years in prison after being found guilty of participating in a fraud involving $2 billion in loans to three state-owned companies to develop the southern African country's marine infrastructure.
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